mr rik
miami,#2Consumer Comment
Wed, April 27, 2011
Spelling it the other way- CAPTIAL ONE- gives ya 1094!
d**n!
Robert
Irvine,#3Consumer Comment
Wed, April 27, 2011
Amazing how no one complains when they get approved or have their credit limit increased. There is no law that requires a Credit Card company to continue to extend you any credit privilege. They can basically close out your account, or change your credit limit for any reason and at any time. All creditors are re-evaluating their credit guidelines and based on these new guidelines they no longer want to extend you credit.
There is NOTHING you can do that would force them to keep your account open. Yes, even IF their reason is wrong and you give them corrected information they are not required to re-open the account if they don't want to.
As for your credit history, it's just that...HISTORY. If your payments were on-time they will still show that they were on-time. If you truly have "excellent" credit, the closing of one account will have a very minor effect overall. Now, if this was your only card then you may have a good credit score but that is not "excellent" credit because of the lack of credit. In this case it will effect you quite a bit more.